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Business Incubator for Rural Entrepreneurs

Business Incubator for Rural Entrepreneurs. October 4 th , 2007 Hanoi, Vietnam Wichai Saretawekul Program Manager Kenan Institute Asia. Topics. Background Project Information Objectives Processes Key Achievements Lessons Learned Challenges. Background.

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Business Incubator for Rural Entrepreneurs

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  1. Business Incubator for Rural Entrepreneurs October 4th, 2007 Hanoi, Vietnam Wichai Saretawekul Program Manager Kenan Institute Asia

  2. Topics • Background • Project Information • Objectives • Processes • Key Achievements • Lessons Learned • Challenges

  3. Background • Be awarded infoDev grant in 2004 • Planning Phase for a business incubator in Thailand • Partnered with the Office of Vocational Education Commission (OVEC)

  4. Background (cont.) • Site visits to 10 vocational colleges in 5 regions • Provision of business incubation seminar, business plan workshop, and incubator manager training

  5. Project Information • In 2006, K.I.Asia was awarded the second grant • Implementation phase for a pilot business incubator in Thailand • Planning phase for pilot business incubator in Laos and Cambodia • Partnership with Lao National Chamber of Commerce & Industry and Siem Reap Chamber of Commerce • Selected one vocational college for a pilot business incubator

  6. Business model

  7. Project Information (cont.) • Suratthani Vocational College Source: http://www.mapsofworld.com

  8. Project Information (cont.) • About 645 km. by road from Bangkok • Occupies an area of approximately 12,891.4 sq. km. • Most incomes depend on agriculture, services and trade respectively. • Per Capita GPP was shown 97,936 baht in 2005.

  9. Why Suratthani Vocational College? • Strategic Location • Full of facilities and experimental equipment • ICT supported • Strong network with government agencies, private enterprises, and local community

  10. Why Suratthani Vocational College? • Quality human resources • Well-known in the community due to its long establishment • Achieves plenty of academic awards

  11. Objectives • To be a pilot business incubator for vocational colleges in Thailand. • To assist vocational school graduates and rural community members to succeed in realizing their goals of starting a successful business.

  12. Objectives (cont.) • To assist needy, aspiring entrepreneurs who typically lack the funds to implement their business plans. • To educate them on best business practices and promote and implement ICT skills.

  13. Objectives (cont.) • To strengthen local capacity within business incubator and rural community to promote ICT-enabled innovation and the appropriation of ICT, both hi- and low-tech.

  14. Management Model K.I.Asia Incubator Clients Incubator Managers (3) Business Incubator Management Team

  15. Processes Pre Incubation Period Preparation Period Incubation Period

  16. Processes (cont.) Preparation Period Incubator Management Team Business Incubator

  17. Process (cont.) Food (3) - Thai style crab cakes & steamed fish curry cake - Herbal/Cereal beverage - Pastry Craft (4) - Batik (2) - Glass painting - Soap carving 20 12 Incubator Clients Service (5) - Thai massage - Graphic design - Flower arrangement (3) Applicants

  18. Incubator Clients

  19. Incubator Clients

  20. Incubator Clients

  21. Processes (cont.) Pre Incubation Period Orientation Business Plan Training

  22. Processes (cont.) Incubation Period Monthly Meeting Incubator Clients Visit Chulalongkorn Business Incubator Kasetsart University Business Incubator Center

  23. Visit of Deputy Minister of Education

  24. Key Achievements (Incubator Clients) • Better understanding of needed business skills • Improved ICT/computer skills in related to product design • Improved technical skills • Reduced production costs • Raised clients’ confidence

  25. Key Achievements (Incubator Clients) • Significant increase of customers • Increase of average monthly income • The brand name and product packaging has been created • Network with other incubators clients in the same business type

  26. Key Achievements(Incubator Clients)

  27. Key Achievements • Close cooperation with OVEC • Increased internal capacity of K.I.Asia and vocational college • Networking with organizations in Thailand and internationally • Incorporated ICT use into the business model which targets rural communities

  28. Lessons Learned • Networking and cooperation are fundamental to an effective incubator • Seminars and trainings are crucial • Even in a fully supported incubator, it is vital to charge tenants some fee to ensure commitment

  29. Lessons Learned (cont.) • An incubator manager must have support from the community • ICT utilization must be implemented from the early stages of an SME’s growth • The right incubator manager is essential to success

  30. Lessons Learned (cont.) • The government needs to be informed about the benefits of business incubation and how to properly measure its effects

  31. Challenges • Make entrepreneurs understand what the business incubator is and how it can assist them. • Analyze what the community and each entrepreneur really needs.

  32. Challenges (cont.) • Persuade entrepreneurs to utilize technology and ICT in their business. • Ability of the business incubator to sustain itself. • Entrepreneur lacks personal economic resources, business literacy/education

  33. K.I.Asia Partners

  34. Thank You Kenan Institute Asia “Partnering for Sustainable Development” Email: wichais@kiasia.org

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